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$13,817.23 14. On April 30, 2007, Sphinx Products purchased machinery for $77,000. The useful life of this machinery is estimated at 7 years, with a

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$13,817.23 14. On April 30, 2007, Sphinx Products purchased machinery for $77,000. The useful life of this machinery is estimated at 7 years, with a $7,000 residual value. Assume that in its financial statements, Sphinx Products uses straight-line depreciation and rounds depreciation for fractional years to the nearest month. Depreciation expense recognized on this machinery in 2007 and 2008 will be: * (5 Puan) $2,333 in 2007 and $7,000 in 2008. $5,833 in 2007 and $10,000 in 2008. $6,667 in 2007 and $10,000 in 2008. $10,000 in 2007 and $10,000 in 2008. 15. ABC Company purchased a building on January 3, 2016 at a total cost of $120,000. The useful of the building was estimated to be 50 years with a residual value of $14,000. Double-declinir

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